Many employees would just as soon let someone else manage their retirement savings.
Researchers in the retirement services unit at Prudential Financial Inc., Newark, N.J., have published figures supporting that conclusion in a summary of results from a recent worker survey.
In the 1970s and 1980s, many employees complained about lack of control over retirement plans. Employers responded by setting up 401(k) plans that let employees set their own savings rate and allocate their own assets.